Treasury Secretary Janet Yellen will sit for her third congressional hearing in a week on Thursday, where, once again, she's likely to be pressed on whether the U.S. government will guarantee all of the country's $19.2 trillion in bank deposits.
The comments drew quick criticism from investors, including Bill Ackman, who has relentlessly warned of dire consequences to small U.S. banks if the government doesn't cough up a bigger guarantee, was quick to criticize Yellen.
"I would be surprised if deposit outflows don't accelerate effective immediately. A temporary systemwide deposit guarantee is needed to stop the bleeding," Ackman said on Twitter after Yellen's testimony to a Senate committee on Wednesday. But those market demands fail to take into account the political reality that the Biden administration faces, regulatory experts say.
"This can't be done by executive order," said Andrew Levin, a Dartmouth College economics professor and former Fed official. He added that going through Congress is "politically infeasible." Setting aside Congress's authority, the issue is a non-starter in most U.S. government offices, sources say. The idea was mentioned in an official brainstorming session after SVB's March 10 collapse, but sourcesYellen is due to testify later on Thursday before the U.S. House of Representatives Appropriations Subcommittee on Financial Services and General Government.Our Standards:
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Treasury Secretary Yellen expresses confidence in banking industryIn an address to banking leaders on Tuesday, Treasury Secretary Janet Yellen said the U.S. was prepared for future banking rescues.
続きを読む »
Treasury Secretary Yellen Says the Government Could Backstop More DepositsTreasury Secretary Janet Yellen said that the government has the ability to provide additional backstops to uninsured deposits if the banking crisis worsens. In remarks prepared for a speech to the American Bankers Association, the former Federal Reserv...
続きを読む »
Watch live: Treasury Secretary Janet Yellen testifies at Senate hearingTreasury Secretary Janet Yellen is likely to face tough questions from senators about the federal response to two bank failures earlier this month.
続きを読む »
US Treasury Secretary Janet Yellen: We are not considering insuring all uninsured bank depositsUS Treasury Secretary Janet Yellen said on Wednesday that they are not considering or discussing anything to do with blank insurance or guarantees for
続きを読む »
Yellen says Treasury isn’t working on expansion of FDIC deposit insuranceTreasury Secretary Janet Yellen on Wednesday said her agency hasn’t looked at expanding FDIC deposit insurance. Yellen is testifying in the Senate, where she...
続きを読む »
First Republic shares fall sharply as Yellen says Treasury will not insure all depositsAs beleaguered First Republic Bank considers its options, Treasury Secretary Janet Yellen said on Wednesday there is no discussion on insurance for all deposits, making a 'bull case' scenario more difficult for the stock.
続きを読む »